SpaceX (SPAC) Reports 92% Revenue Surge Amid $18.4B AI Spending

SpaceX's Q2 revenue increased 92% year-over-year, exceeding estimates. However, capital expenditures soared to $18.4 billion, primarily directed towards AI investments, which more than doubled total sales for the quarter. This capex figure surpassed analyst expectations of $13.22 billion. Despite positive revenue growth, SpaceX shares dropped 7.5% in after-hours trading, reflecting investor concerns about the high spending level. For investors, these developments indicate SpaceX's aggressive AI strategy and the potential for significant future revenue, aiming for $100 billion in annualized recurring revenue by year-end.